Today, more than a decade late and after spending $11.2 billion, the Long Island Railroad will begin running trains to Grand Central Terminal. This 3.5-mile project, known as the East Side Access tunnel, cost a mere $3.2 billion a mile, which is a trifle compared with the Second Avenue Subway, the next segment of which is expected to cost $4 billion a mile.
Architect’s vision of what new LIRR platform will look like in Grand Central Terminal. Source: STV Inc.
Meanwhile, New York transit has a $26.6 billion capital funding gap over the next two years. One result of this is that more than a quarter of the region’s transit vehicles are beyond the end of their expected service life. Continue reading
